Bharrat Jagdeo – beyond 50 per cent

Aug 16, 2026 Editorial, News

Editorial…

(Kaieteur News) – Though a question was necessary, a senior government official confirmed that Guyana has started to collect its 50% split of Profit Oil. From there, it is all Vice President, Bharrat Jagdeo. Guyana’s chief oil and gas policymaker has to serve as the government’s lead messenger. His is the obligation to face the nation. Guyanese want to hear from him.

We have our questions. He is the best person to provide the kind of answers needed, plus the details. The change to 50% of profit oil is a development without match in Guyana’s economy. Jagdeo has to make an appearance and share what follows. He was everywhere during the 2020 elections, a force of nature by himself, rallying his troops. He was at the centre and forefront of the battle for power and control of the oil that had just started to flow. Six years later, the oil prize is firmly set in his hands. He must now represent it. He must appear and manifest that he is worthy of the hopes and aspirations that the electorate placed in his party, and in his hands.

Guyana cannot afford for this country’s chief oil and gas policymaker to be a no-show at this time. He cannot leave something as big as 50% profit split to juniors. He does not have a history of such delegation, especially when the news is good. There can be no bigger and better news than Guyana has fully repaid ExxonMobil its US$55B investment. And that this country has been collecting its new 50% profit share and it is, indeed, a full and fair 50%. It should be multiples of what Guyana has been collecting for the last six years. Multiples of the profits that this country has been receiving at peak production of approx. 900,000 barrels daily, and the added consideration of oil prices spiraling upwards due to the stalemate in the Middle East.

How will the government manage this huge influx of money? Oil prices are volatile. They can fluctuate wildly. Also, Guyana is preparing to increase its daily production by 250,000 barrels. We are less interested in compensating for changes in oil prices, and more about what the government has in mind for prudent management of a depleting asset, and earnings that change overnight. Jagdeo, as the PPPC government’s chief policymaker, has a big say, perhaps the heaviest contribution in the plans on how more oil money will be spent. Would the government’s emphasis be more on so-called “national development priorities”, with more roads, bridges and infrastructure works? Or would there, at last. Be meaningful budget allocations for Guyanese families that struggle to survive in this oil rich nation?

We are sure that should vice president heed our call and speak to the nation on this long-awaited earnings spike, he is likely to attract a large audience. Guyanese want to hear what the government plans to prioritise with the new billions at its disposal. The poor of Guyana have been made to wait. They have made the sacrifices. They are due to be in front of the line of government provisions. Chronic, generational poverty is not addressed by an occasional cash grant. There has to be a more in-depth approach if there is to be sustained relief from poverty. There is a fact that we must face, one that cannot be argued against. The fact that there is more money means there will be billions to spend. When the money was less, the PPPC government could not resist the temptation to withdraw more from the Natural Resource Fund. In view of more US millions to withdraw, and more Guyanese billions to spend, corruption levels could break into new territory.

Jagdeo also would have to shed his silence and comment on the projects that ExxonMobil have to come onstream, and those that it is lining up. What will be the arrangements for those? Who puts up money, what changes? For all these reasons and more, oil guru Jagdeo must speak clearly and frankly, and now. Citizens need to know where they stand with substantially more millions flowing into Guyana’s coffers. How they will benefit, finally get a chance to experience living in an oil rich country.

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Bharrat Jagdeo, Editorial, oil and gas policymaker, Profit Oil

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